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President Biden signed the Consolidated Appropriations Act, 2023, on December 29, 2022, which includes the package of retirement plan legislation known as “SECURE 2.0.” SECURE 2.0...
SECURE 2.0 was signed into law on December 29, 2022 making it important for plan sponsors and plan administrators to familiarize themselves with the new rules. The changes include correction of retirement plan overpayments and Expansion of EPCRS Self-Correction Program.
As part of our ongoing series on SECURE 2.0, this post discusses three significant changes to corrections of common retirement plan errors: (1) New rules for correcting overpayments...
As part of our ongoing series on SECURE 2.0, this post discusses three significant changes to corrections of common retirement plan errors: (1) New rules for correcting overpayments,...
The U.S. Department of Labor (the “DOL”) proposed changes to its Voluntary Fiduciary Correction Program (the “VFCP”) in November for the first time since 2006. The most significant...